Egypt's Arab African International Bank (AAIB) is currently negotiating loans worth $110 million with two international financial institutions to boost its liquidity of foreign currency. The Egyptian bank is in talks to secure around $60 million loan from the European Bank for Reconstruction and Development (EBRD), a banking source with knowledge told Amwal Al Ghad on Sunday. AAIB also seeks to borrow $50 million from the SANAD Fund for MSMEs, part of the German state-run Kfw Development Bank, the source added. Earlier this year, the AAIB bank signed a $100 million loan with the International Finance Corporation (IFC). Nevine Sabbour, AAIB's deputy managing director, told Amwal Al Ghad on Saturday, that her bank is in talks to secure dollar-dominated loans from some international financial institutions, including the EBRD. The loans are to support AAIB's balance sheet, Sabbour added. Several banks in Egypt had recently secured dollar-dominated loans from international financial institutions to bolster foreign currency liquidity. Below the list of banks in Egypt that secured foreign loans. The Bank Loan Value Lender Bank Audi SAE $30 million IFC Union National Bank – Egypt $50 million Parent Abu Dhabi-based UNB Bank Crédit Agricole Bank – Egypt $30 million Parent Crédit Agricole SA (France) AlexBank $100 million EBRD Banque Misr $1.1 billion A group of Chinese financial institutions QNB AlAhli Bank $140 million EBRD National Bank of Egypt (NBE) $300 million African Export-Import Bank (Afreximbank)
